Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    220 Grand Ave, Unit 1 Lees Summit, MO 64063-2865
    Back to Search
    Property profile & analytics

    220 Grand Ave, Unit 1, Lees Summit, MO 64063-2865

    View on Map
    • Apartment buildings
    • 2,028 SF
    • 0.28 lot acres
    Off-Market
    Last Sale Sep 6, 2024
    Property ID
    US48-2880149
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 220 Grand Ave

    Year built
    1982
    Construction
    WOOD
    Lot size
    0.28 lot acres
    Property type
    Apartment buildings
    APN
    61-230-14-08
    APU
    612301408

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 6, 2024 — Coffelt Land Title INC Foster Properties IV LLC Warranty Deed —
    Jul 24, 2013 — Harry D Foster Foster Properties III LLC Quit Claim Deed · related —
    Jul 6, 2010 — Foster Properties III Foster,melody B Quit Claim Deed · related —
    — — Harry D Foster — Deed Of Trust · related $261k · North American Savings Bank
    — — Foster Properties III LLC — Deed Of Trust · related $505k · North American Savings Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lees Summit
    County
    Jackson
    State
    Missouri
    Longitude
    -94.3726
    Latitude
    38.9146
    CBSA code
    28140
    CBSA name
    KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,689
    $7,182
    $58,235
    $65,417
    -
    $0.00
    $0.00
    $344,300

    Comparable in this City

    • Value Estimation by Request
      2,880 SF

      509 Douglas St

      APARTMENT HOUSE (5+ UNITS)
      509 Douglas St, Lees Summit, MO 64063-4220
      View Details
    • Value Estimation by Request
      2,482 SF

      619 Miller St, Unit 1

      APARTMENT HOUSE (5+ UNITS)
      619 Miller St, Lees Summit, MO 64063-4251
      View Details
    • Value Estimation by Request
      2,387 SF

      713 Douglas St, Unit 1

      APARTMENT HOUSE (5+ UNITS)
      713 Douglas St, Lees Summit, MO 64063-4258
      View Details
    • Value Estimation by Request
      2,040 SF

      303 Claremont St, Unit A

      APARTMENT HOUSE (5+ UNITS)
      303 Claremont St, Lees Summit, MO 64063-6232
      View Details
    • Value Estimation by Request
      1,767 SF

      308 Frst Ave

      APARTMENT HOUSE (5+ UNITS)
      308 Frst Ave, Lees Summit, MO 64063-2616
      View Details
    • Value Estimation by Request
      2,990 SF

      210 Grand Ave, Unit 1

      APARTMENT HOUSE (5+ UNITS)
      210 Grand Ave, Lees Summit, MO 64063-2864
      View Details

    Similar Nearby for Sale

    • New
      $690,000
      Pending

      New Twin Villa Community

      Twin villas near Downtown Lee's Summit with low-maintenance living.
      216-218 NW Orchard Ct, Lees Summit, MO 64063
      View Details
    • $525,000
      Pending

      Updated Duplex in Lee's Summit

      Updated duplex with spacious kitchens, fireplaces, and large backyards.
      1108 SE 8Th St, Lees Summit, MO 64063
      View Details
    • New
      $754,000
      0.28 Acres

      New Twin Villa Community

      Two-story twin villas near Downtown Lee's Summit.
      223-225 NW Orchard Ct, Lees Summit, MO 64063
      View Details
    • Contact for pricing
      1,740 SF

      Downtown Lee's Summit Mixed-Use Building

      Mixed-use building in downtown Lee's Summit with income potential.
      8 SW 3Rd St, Lees Summit, MO 64063
      View Details
    • New
      $225,000
      Pending

      Updated Townhome Duplex

      Clean, updated ranch-style townhome with low-maintenance living.
      749 SE Claremont St, Lees Summit, MO 64063
      View Details
    • Contact for pricing
      5,476 SF

      Retail Property with High Visibility

      Retail property with high visibility and traffic, pad site opportunity.
      713 Rte 291, Lees Summit, MO 64063
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,252 SF

      Retail Space in Growing Suburb

      Retail spaces available in a fast-growing Kansas City suburb.
      507-579 SE Melody Ln, Lees Summit, MO 64063
      View Details
    • Contact for pricing
      1,793 SF

      Medical Office Space For Rent

      Class A medical office space adjacent to Lee’s Summit Medical Center.
      2100 SE Shenandoah Dr, Lees Summit, MO 64063
      View Details
    • Contact for pricing
      2,846 SF

      Retail Space with Outdoor Patios

      Retail space with high visibility and easy highway access.
      211 SE State Route 291, Lees Summit, MO 64063
      View Details
    • Contact for pricing

      Commercial Land For Rent

      Commercial land available for rent with high traffic volume.
      930 E Langsford Rd, Lees Summit, MO 64063
      View Details
    • Contact for pricing
      1,549 SF

      Retail Space on Langsford Road

      Retail space with high traffic and convenient highway access.
      905 E Langsford Rd, Lees Summit, MO 64063
      View Details
    • Contact for pricing

      Downtown Lee's Summit Retail/Office

      Retail and office suites in the heart of downtown.
      334 SW Main St, Lees Summit, MO 64063
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    220 Grand Ave, Unit 1
    Lees Summit, MO 64063-2865
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    220 Grand Ave, Lees Summit, MO, 64063
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!